Exchange rate quotes for ₦1,100 at parallel market

The exchange rate between the naira and dollar fell to N1,100 on the black market according to traders who sell forex per inflow.

Nairametrics obtained this morning quotes from select traders who confirmed quotes between N1,100-N1,110 for inflow. Inflows are forex transactions sold or bought over the wires.

The exchange rate at the official Nigerian Forex Market fell to the lowest ever point of N848/$1 on Tuesday marking a turning point in Nigeria’s exchange rate crisis.

This is a developing story.